Bitcoin investors are rushing to “stack sats” with their $1,200 stimulus checks
After weeks and weeks of promises, the past few days have seen millions of tax-paying Americans receive their $1,200 (or less if you’re a high-income earner) tax-free checks from the U.S. government.
Due to the fact that over 22 million Americans have lost their jobs over the past month due to the COVID-19 outbreak, much of this money went to food, rent, mortgage payments, medicine, and other essentials. But some are splurging their cash, spending it on Bitcoin.
Yeah, really, they’re spending their free money from the government on our favorite orange coin.
Investors spend “helicopter money” on Bitcoin
As crazy as this may sound, Bitcoiners eligible to receive the free money from Uncle Sam have done are doing what they do best: stacking sats.
Guy Bennett, BitcoinorBust, and El Barto are among those embroiled in the cryptocurrency community to have spent their $1,200 stimulus checks on satoshis, and sats only. For some context, $1,200 can buy around 0.17 BTC at current prices.
What’s crazy is that serious data indicates that it’s far from only three individuals that decided to blow their $1,200 on Bitcoin.
Brian Armstrong, CEO of Coinbase, noted that his company processed exponentially more $1,200 purchases of cryptocurrency yesterday that it does normally, with the % of buys or deposits that are exactly $1,200 growing from an average of ~0.08% to 0.375% on Wednesday.
It’s important to note that the $1,200 stimulus check being used to buy Bitcoin isn’t only an act perpetrated by long-time believers and diehard HODLers.
Jason Yanowitz of BlockWorks Group — a crypto media and events company that purportedly is enacting a hiring freeze due to the pandemic — said on Apr. 16 that one of his friends bought BTC for the first time with a portion of the stimulus cheque.
There’s also prominent Bitcoin analyst and podcaster Marty Bent, who shared three messages from his friends and peers mentioning the words “stimulus check” and “buy Bitcoin” in tandem.
Fundamentally bullish for scarce assets
In a way, it’s fitting: helicopter money, which is money printed out of thin air by the government, being spent on Bitcoin is poetic.
Indeed, as mentioned incessantly by some of crypto’s biggest bulls, the existence of these checks and similar distributions of “free money” around the world are fundamentally bullish for scarce assets like gold and Bitcoin.
The baseline consensus amongst executives of and leading investors in the crypto space is that Bitcoin’s value is being proven by the debasement of fiat money around the world, enabled by efforts to stimulate the economy, be it through central bank asset purchases or these checks.
“As governments increase the quantity of paper money, it takes more pieces of paper money to buy things that have fixed quantities, like stocks and real estate, above where they would settle absent an increase in the amount of money. The corollary is they’ll also inflate the price of other things, like gold, bitcoin, and other cryptocurrencies.”
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The US could be in a recession due to the coronavirus, says Fed Chairman Jerome Powell. Would that throw the crypto market into a recession, too?
In brief
US Federal Reserve Chairman today said the US "may well be in a recession."
Bitcoin has been affected by the coronavirus crisis, just as traditional markets have been.
It's unclear whether Bitcoin would suffer during a recession, especially with upcoming reductions to mining rewards.
Appearing on NBC’s “Today” show this morning, US Federal Reserve Chairman Jerome Powell said, “We may well be in a recession.” He ascribed the country’s economic downturn to the coronavirus, the global pandemic that has infected over half a million people and has billions on lockdown.
As the coronavirus started sweeping through the US, it battered the US economy and crashed global markets. Bitcoin was not exempt. At one point, the price of BTC sunk to a low of $4,100, its worst price since March 2019, before recently recovering to around $6,600 as stocks have ticked back up.
But if Bitcoin collapsed in sync with the rest of the market, how will it do if America sinks into a deep recession?
A recession constitutes two-quarters of successive decline in gross domestic product (GDP). That looks likely in the US. A staggering 3.3 million US citizens filed for unemployment benefits last week—a record high. Late last night, a two trillion-dollar stimulus package to help the economy keep afloat during the crisis was approved by the US Senate and will move to the House of Representatives for a vote.
But Powell told NBC there’s a difference between this recession and a normal recession: “There is nothing fundamentally wrong with our economy. Quite the contrary. We are starting from a very strong position.”
According to Pankaj Balani, CEO of Delta Exchange, the Bitcoin market is equally healthy. “The key difference in this crisis, though, is the speed of price movement. Whatever happened in five months in the mortgage crisis happened in five days in the corona crisis. Hence, the recovery should also be a lot faster,” he told Decrypt.
Though Bitcoin earlier this month fell along with global markets, Balani predicted that “as markets settle we will see assets decouple from one another and prices will be driven by idiosyncratic risks instead of systemic risks.”
Bitcoin may even benefit from a recession, said Balani. Central banks like the US Federal Reserve finance stimulus packages by increasing the monetary supply. “This will put pressure on currencies and can turn out to be positive for Bitcoin prices in the medium to long term,” he said.
Simon Peters, a market analyst at trading site eToro, agreed. He told Decrypt, “Due to the Fed announcing unlimited [quantitative easing], investors could soon be looking to BTC as an inflation hedge against a depreciating dollar.”
He added that investors are also less likely to sell Bitcoin because of the upcoming halving event. It’s slated to occur sometime around the middle of May—whereupon the supply of Bitcoins issued as mining rewards will halve, due to a feature hardcoded into the Bitcoin protocol. Some investors predict the halving to lead to a rise in the price of Bitcoin. The event “theoretically should reduce selling pressure from miners,” said Peters.
There’s another reason a US recession might not be bad for the crypto economy, noted Peters: The coronavirus originated in China, which has since contained the virus and is beginning to resume economic production. Much of Bitcoin’s hash power is concentrated in China—a staggering 54% of hash power is controlled by Chinese miners alone, according to a December 2019 report by CoinShares. Consequently, said Peters, “We can expect mining operations, and in particular the network hashrate, to start picking up from the recent slump.”
“These conditions could in fact be a perfect storm for Bitcoin's next bull market, resulting in some positive moves at the end of this year and into 2021,” he concluded.
But, in terms of the American economy as a whole, US President Donald Trump doesn't want to wait that long. He’s hoping the US economy can be humming back along by Easter. But as the country’s leading infectious disease expert, Dr. Anthony Fauci, told CNN, “You don’t make the timeline; the virus makes the timeline.”
In the case of Bitcoin, the protocol makes the timeline.
G20 Considers 10 Rules for Regulation of Stablecoins Like Facebook Libra
The G20 is setting rules to regulate stablecoins such as Facebook’s Libra cryptocurrency. Responding to a call by the G20, the Financial Stability Board (FSB) has provided 10 “high-level” recommendations that establish a regulatory framework for stablecoins.
The G20 finance ministers and central bank governors will meet under Saudi Arabia’s G20 presidency on Wednesday to “discuss and take urgent actions needed to address the global challenge presented by the covid-19 pandemic,” host country Saudi Arabia announced. The April G20 finance chiefs’ meeting is traditionally held in Washington, D.C., but due to the coronavirus outbreak worldwide, G20 meetings are currently held virtually, and more frequently.
Ahead of the meeting, the Financial Stability Board (FSB) published 10 “high-level” recommendations on Tuesday that “addressed to authorities at jurisdictional level to advance consistent and effective regulation and supervision” of global stablecoins. The G20 regulatory watchdog explained:
The recommendations respond to a call by the G20 to examine regulatory issues raised by ‘global stablecoin’ arrangements and to advise on multilateral responses as appropriate, taking into account the perspective of emerging market and developing economies.
The G20 finance ministers and central bank governors are meeting virtually on Wednesday under Saudi Arabia’s presidency. Among the topics they will discuss is the issue of regulating stablecoins like Facebook’s proposed Libra cryptocurrency.
The FSB is an international body that monitors and makes recommendations about the global financial system; all G20 countries have members on the Board. Regulators worldwide refer to stablecoins that can quickly achieve scale as global stablecoins; an example is Facebook’s proposed cryptocurrency, Libra. The recommendations will be delivered to the G20 finance ministers and central bank governors for their virtual meeting on Wednesday. The FSB is inviting comments on its recommendations to be submitted by July 15.
10 ‘High-Level’ Recommendations
In a consultative document published on Tuesday entitled “Addressing the regulatory, supervisory and oversight challenges raised by ‘global stablecoin’ arrangements,” the FSB provided the G20 with its 10 high-level recommendations.
The first is to ensure that relevant authorities have the necessary powers, tools, and resources to regulate and supervise global stablecoins, including their multi-functional activities, in order to “enforce relevant laws and regulations effectively.” Secondly, the FSB recommends:
Authorities should apply regulatory requirements to GSC [global stablecoin] arrangements on a functional basis and proportionate to their risks.
The G20 called on the Financial Stability Board during its meeting last year to examine the regulatory issues raised by “global stablecoins” and to advise on multilateral responses as appropriate.
Next, the FSB suggests for the authorities to “ensure that there is comprehensive regulation, supervision and oversight of the GSC arrangement across borders and sectors.” They should “cooperate and coordinate with each other, both domestically and internationally,” to regulate stablecoins across borders and sectors.
The fourth recommendation is for the authorities to have in place a comprehensive governance framework, with a clear allocation of accountability, for global stablecoins. The regulatory watchdog also recommends ensuring effective risk management frameworks for these coins, particularly with regard to “reserve management, operational resiliency, cyber security safeguards and AML/CFT measures, as well as ‘fit and proper’ requirements.”
The FSB has provided the G20 nations with a set of 10 “high-level” recommendations for the regulation of stablecoins, including Libra, the cryptocurrency proposed by social media giant Facebook.
The authorities should additionally ensure that global stablecoins have “robust systems for safeguarding, collecting, storing and managing data,” the FSB outlined in its sixth recommendation. They should further have “appropriate recovery and resolution plans,” the Board’s seventh suggestion describes.
Ensuring that global stablecoins provide users and stakeholders with comprehensive and transparent information is the next recommendation. Moreover, the Board proposes that the authorities make certain stablecoins “provide legal clarity to users on the nature and enforceability of any redemption rights and the process for redemption, where applicable.”
Lastly, the authorities should ensure that stablecoins “meet all applicable regulatory, supervisory and oversight requirements of a particular jurisdiction before commencing any operations in that jurisdiction, and construct systems and products that can adapt to new regulatory requirements as necessary.”
What do you think about the G20’s efforts to regulating stablecoins? Let us know in the comments section below.
According to a new report released by Premium Market Insights (PMI), global investment in blockchain technology in energy markets is set to reach $34.7 billion by 2025. Valued at just $156.5 million in 2016, the sector is forecast to grow at a rate of 82% a year.
Although $35 billion seems high, it’s dwarfed by the net worth of $1.85 trillion for the energy market as a whole. Key players using blockchain and DLT in the field include Accenture, AWS, Bigchaindb, Deloitte, IBM, Infosys, Microsoft, Nodalblock, Oracle, SAP, Enosi, and Electron.
Blockchain is used within energy markets for data management, financial tracking and interactions. According to the report, drivers for adoption include reducing operational costs and capital expenditure. Increasing automation will see blockchain employed for data security and integrity.
However the projected high rate of growth could be affected this year, as energy markets take a deep hit as a result of both the coronavirus and the oil crisis.
Blockchain already in the Energy Market
Companies are finding increasing numbers of use cases for blockchain in the energy sector. Power Ledger has just announced a partnership with green energy retailer ekWateur to provide almost a quarter of a million French residents with the opportunity to choose their renewable energy source.
VeChain also recently announced the next phase of an ongoing collaboration with Shanghai Gas to develop a blockchain powered ‘Energy-as-a-Service’ Platform and business ecosystem.
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How Audrey Tang is using “very promising” distributed ledger technology to help government listen to its citizens at scale.
In brief
Taiwan’s digital minister Audrey Tang considers research into blockchain for governance a “top priority.”
The country’s already using distributed ledgers to track water and air pollution in pilots.
Decentralized governance can enable more inclusive participation through “listening at scale,” Tang says.
Taiwan is still figuring out how to “do” democracy, the country’s Digital Minister, Audrey Tang, told Decrypt. Taiwan’s democratic era only started after the country came out of martial law in the 90s—its first election was in 1996—making its constitution one of the first written in the Internet era.
“In many other parts of the world, democracy is part of their culture, part of their tradition. To change it, you have to learn about hundreds of years of proud republican tradition,” she told Decrypt. But in Taiwan, “The people who designed the democracy systems are all still around and very active,” she added.
Tang, the 38-year-old radical who’s leading Taiwan’s drive for technological innovation in governance, said that researching how blockchain can improve governance is a “top priority”.
“Ledgers”—Tang prefers the term to blockchain—“are very promising. [They are] a cheap way to build accountability and some sort of legitimacy across sectors,” she said, which makes them particularly useful for governance.
[DLT is] a cheap way to build accountability and legitimacy across sectors.”
~ Audrey Tang
“Through shared ledgers, people can nevertheless agree on something that previously would require expensive auditing,” she said. Governments, instead of footing the bills of professional auditors like PwC and KPMG, can “very easily share the burden” across different sectors, said Tang.
Taiwan’s Presidential Hackathon
Tang pointed to a ledger-related project that came out of the Presidential Hackathon—a government-sponsored event where the government implements the winners’ ideas.
A team was selected to work on a cheap, solar-powered device that measures water pollutants and logs its findings on a blockchain. “The water box tries to solve a governance problem because industrial plants [and] farmlands can get their electricity and water cut if people realize that they’re actually polluting the waterways for the downstream farmlands,” said Tang.
“It’s not like all the illegal industrial plants will register themselves,” she pointed out. Anyone who has a stake in proving they have clean water can buy a bunch of the devices, and stick them in the water. If an industrial plant finds itself accused of polluting the water, they can refer to a shared, immutable ledger to absolve themselves.
This, said Tang, is key to getting a cross-sectoral buy-in. “So that people can live with each other, contributing to the same shared reliable database without actually worrying too much about adversarial scenarios where people can modify their numbers,” she explained.
The water project is currently in proof of concept, and a similar project, which measures the air quality, is already up and running. The government’s love of blockchain doesn’t end there—the government has set up the “Taiwan Blockchain Alliance” in July last year, together with academia and industry, to work on the topic. Even Taipei’s trash cans are on the blockchain.
Listening at scale
To be clear, Tang thinks that blockchain is just “one of many things” that can improve governance in a digital democracy, “though it’s probably not the end-all and be-all of open innovation.”
Nor is she looking to force blockchain down people’s throats. ”I don’t quite believe in asking people to change their behaviour to adapt to new governance technologies” she said. Instead, she thinks that letting local community builders appropriate the technology themselves is always a better idea.
“Decentralized governance, when designed properly, can incentivize a lot more inclusive participation.”
~ Audrey Tang
Instead, blockchain could form part of a wider push to encourage people to participate in democracy. “Decentralized governance, when designed properly, can incentivize a lot more inclusive participation,” she said, because “anyone with an email address that has something to share can do so in a working group, without being elected as a representative.”
Collaborative governance, then, “offers a drastically new way of legitimacy that does not require an army, a navy, or a police force to enforce.”
Tang’s looking at ways to use technology to facilitate discourse that’s aimed at driving consensus rather than division, part of what she calls “listening at scale”. The problem with Twitter and other modern social networks that support asynchronous discussion, Tang told Decrypt, is that there’s no way to channel people’s anger towards constructive behaviour. “If people feel angry because [they’ve read], I don’t know, a provocative Ethereum Classic post, then the easiest way to vent the anger is not deliberation, it’s rather an outrage,” she said.
Mimicking real social settings
Much of Tang’s work has focused on restructuring online platforms to make it easier for people to agree on things. Anything that mimics a real social setting—whether that be augmented reality, Skype, or real-life conversation (remember that?)—diffuses tension, said Tang. “A lot of the psychological effect of outrage online is because we feel relatively helpless.” In an interpersonal setting, “there’s a non-verbal way to non-violently communicate your position across,” she said. To this effect, much of Tang’s time is spent up and down the country, meeting with leaders of local communities to hear their thoughts.
“A lot of the psychological effect of outrage online is because we feel relatively helpless.”
~ Audrey Tang
Another way is to manufacture conversation that, instead of turning anger to outrage, turns anger to humour. “Once you vent your anger in a humorous way, then there really is no energy left to make outrage a personal attack. It’s called sublimation,” Memes, while they work only temporarily, “can at least incentivize people to get into the mindset required for informed deliberation to happen,” she said. “It’s a gateway mechanism,”
“The more people participate in governance, the better the governance mechanism becomes, she said. “Then they will actually, through social innovation, demonstrate viable prototypes. The government’s role is just to make sure to amplify those viable prototypes so that people can voluntarily join.”
South Korea’s Central Bank Wants to Digitize the Won
South Korea is a very prominent country when it comes to cryptocurrencies and finance. It now appears that a digital Won is being explored, with a pilot program running until late 2021. There are multiple countries aiming to digitize their fiat currency in the coming years.
Digitizing the South Korean Won
Slowly but surely, all financial transactions are shifting to the digital space. Exploring additional options in that regard is never a wasted effort. In South Korea, there is an experiment going on to digitize the local Won currency. The project is monitored by South Korea’s central bank, and will run until December 2021. It is not the first time such a venture is being discussed in the country. Initial remarks first surfaced in late 2018, as the South Korean government expressed an interest in stablecoins. Several questions regarding this venture remain, however. It does not appear as if a blockchain-based infrastructure will be used at this stage. Very little is known about the infrastructure being used for this digital Won as of right now. Central bank digital currencies are being explored in many countries. For now, it remains unclear if there will be some sort of first-mover advantage. With South Korea now taking its trial to the next level, the coming months will undoubtedly get very interesting.
Article Produced By JP Buntinx
JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.
Own A Piece Of Markethive — Lifetime Income Opportunity
Markethive, the first Social/Market Network built on the Blockchain, introduces The Entrepreneur Program
The Entrepreneur program is designed to leverage your system. Your free Markethive system is a market network, like a social network, but with powerful inbound marketing tools integrated into the system. This premier hybrid social network includes news feeds, blogging platforms, video channels, chat channels, groups, image sharing, link hubs, resume, profile page and peer to peer commerce. But more than a social network, we have also delivered to you “Inbound Marketing tools” like broadcasting, capture pages, lead funnels, autoresponders, self-replicating group tools, traffic analytics, and more. Plus, we are built on the Blockchain which allows Airdrops of 500 Markethive Coin (MHV) upon joining and micropayments for using the tools mentioned above. This is all free to you.
The Entrepreneur program is designed to add gold plating to an already stellar and unbelievably valuable system you receive for free.
The Markethive Coin — MHV Consumer Coin
Notably, MHV was listed on the first of many exchanges, including its own exchange [in development] in March in 2019 and is currently valued at $0.20. The Markethive coin will not be dependent upon speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive.
The coronavirus pandemic has changed the world like never before.
The economic meltdown is staring at our face,
and the recent announcement of Federal Reserve to print infinite currency has come across as a double-edged sword. While this move will bring much-needed relief for investors, it is surely going to hurt the value of the dollar currency in the long run.
Silver Lining
In such circumstances, Bitcoin is emerging as a safe haven for investors. Of course, Bitcoin has suffered some reverses in recent times, but the largest cryptocurrency by market capitalization has recovered quickly and outperforming most of the other investment options, including stocks of most of the bigwigs listed in S&P 500 index.
Is it the right time to buy Bitcoin?
Now the most crucial debate raging among investors is whether to buy Bitcoin now or wait for the value of the coin to come down, say plunging below $3,000 before buying the coin. Now opinions in this regard are different, although cryptocurrency experts believe that it is one of the most opportune times to buy Bitcoin. This analysis is not based on market speculations but has strong underpinnings of technical analysis.
Given the fact that the fundamentals of Bitcoin continue to remain strong since it reached its highest lifetime valuation of $20,000, the investment in the cryptocurrency will not result in the loss of the money in the long term. Over the years, a significant number of developers and miners have become part of Bitcoin’s ecosystem, which signifies the long-term sustainability of the digital currency. In addition, the Bitcoin hash rate has also gone up and the upcoming Bitcoin halving event – where the rewards for the miners is going to decrease from the current 12.5 BTC to 6.25 BTC — is further going to have a positive impact on the valuation of the digital currency. The halving of Bitcoin mining rewards will constrain its supply and increase its demand. In such a scenario, prices will go up and investors will be benefited from this particular development.
Federal Reserve Policies
Coming back to the major event of Federal Reserve announcing printing of around $6 trillion also bodes well for the Bitcoin value. Flooding the market with so much of the Fiat currency will ultimately devalue the dollar and strip it of its purchasing power. In such a scenario, investors are expected to patronize other commodities, including gold and Bitcoin, for investing their money and reaping rich dividends. One smart strategy to make money by investing in Bitcoin is opening an account with the Bitcoin Evolution. The Bitcoin Evolution Review 2020 reveals why this automated trading software has become a preferred choice of traders across the globe. It is a very convenient choice, and you will be amazed at how easy it is to invest and trade in Bitcoin with the help of this software. So what you are waiting for, just click on the link above and enjoy its unmatched convenience.
Article Produced By David Cox
David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
Own A Piece Of Markethive — Lifetime Income Opportunity Markethive, the first Social/Market Network built on the Blockchain, introduces The Entrepreneur Program
The Entrepreneur program is designed to leverage your system. Your free Markethive system is a market network, like a social network, but with powerful inbound marketing tools integrated into the system. This premier hybrid social network includes news feeds, blogging platforms, video channels, chat channels, groups, image sharing, link hubs, resume, profile page and peer to peer commerce. But more than a social network, we have also delivered to you “Inbound Marketing tools” like broadcasting, capture pages, lead funnels, autoresponders, self-replicating group tools, traffic analytics, and more. Plus, we are built on the Blockchain which allows Airdrops of 500 Markethive Coin (MHV) upon joining and micropayments for using the tools mentioned above. This is all free to you.
The Entrepreneur program is designed to add gold plating to an already stellar and unbelievably valuable system you receive for free.
The Markethive Coin — MHV Consumer Coin
Notably, MHV was listed on the first of many exchanges, including its own exchange [in development] in March in 2019 and is currently valued at $0.20. The Markethive coin will not be dependent upon speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive.
MARKETHIVE — A Technological Revolution 20 Years In The Making
A Lifeline For All Who Aspire To Work Online.
The Entrepreneur Epoch Is Here
Wherever you are in the world, you are probably experiencing a total upheaval of a lifestyle we have all been accustomed to. As we move through this global pandemic, hitting us on two fronts, medical and health, plus the enormity of a very real financial crisis with governments handing out economic stimulus packages and hefty unemployment benefits never seen before. Although it may help us and attempt to keep the economy going in the interim period, where does that leave the global financial economy in the years and decades to come?
The number of people choosing to work online in the hope of generating an income is and will continue to increase. Many are now working remotely for the company they are employed with from home, particularly in logistics, transportation, finance, and communication industries. Others have lost their jobs or been stood down with brick and mortar businesses either going totally online with the help of delivery services or in hibernation until COVID-19 passes. The massive economic, political, and sociological impacts of this pandemic world have the politicians, fiduciaries, and banks reporting they have never seen anything this bad.
Via Michael Tisserand on Twitter
A New Appreciation
This will change the way we have always done things. It will bring a new appreciation for what we have and the opportunities we never thought possible. The humanitarian nature and benevolence shines through these extraordinary and unprecedented times, a wake-up call for many and will generate a completely different outlook creating a new normal in a revamped world.
Just as restrictions like social distancing, rigorous testing, meticulous hygiene methods, and self-isolation or quarantine can help the medical crisis, now more than ever the technology companies can bolster the looming economic crisis. The whole world has turned to social media to keep in touch but what about marketers and business owners? The linear social media platforms aren’t always in favor of the vendor. For example, Instagram doesn’t allow external links in posts making it more difficult for e-commerce and local businesses to communicate with potential customers.
On a global scale, we are seeing corporations, businesses and individuals helping each other and some big tech platforms are doing their bit to help small businesses by offering grants and ad credits to advertise on their platforms and that’s ok amidst the crisis everyone is facing right now. There is fear about whether the recession will take a long time to recover from, but I think it’s safe to say, although we’ve experienced a decline in spending due to the precarious circumstances in this present time, spending will resume and improve as we move forward into this new normal way of life, particularly online, in the not too distant future.
Image by SparkToro — Rand Fishkin
Now Is The Time To Invest
It has been documented by pundits that investing during times of recession is a smart thing to do. Also, research shows that people who invest in marketing during a recession tend to more quickly outperform their competition as markets resume, so it makes perfect sense to invest now for the second and third waves that will inevitably come in the future.
We may well be heading for a recession but those that get it will invest in a platform far beyond the capabilities of any other marketing or social media platform out there as we know it today, ready and able to pioneer the next generation of platforms, with a more fair and equitable business model than previous.
The Perfect Storm
This is the perfect storm for the next generation social and marketing platform, blockchain-driven, utilizing cryptocurrency to rise up from the devastation caused on all fronts. Called a Market Network noted by experts in the field, this is part of the new way of doing things. This is where complete sovereignty and financial freedom is not only possible, it’s probable.
Markethive is the first Market Network and leading the way for marketers, business owners, all entrepreneurs, offering all the tools needed to facilitate any business along with a spirited community advocating collaboration in a blockchain-driven environment assuring privacy, autonomy, and sovereignty and all for free. This is a complete ecosystem where being able to generate an income is a reality. The Markethive system pays you to learn, it pays you to use it and it pays you to promote it.
How is this possible? That’s easy. Markethive, with its own proprietary technology, built on the Blockchain with its own coin (MHV) is creating its own ecosystem. This allows Markethive to pay you in MHV for every activity you perform in the system.
It also runs on multiple engines. What does that mean?
Markethive started out and is fundamentally an inbound marketing platform given to you for free, much like Marketo which charges up to $25,000 per month to use its services. Geared for huge enterprise-scale companies, Marketo sold for $4.75 billion to Adobe and faring well for the B2B market.
But Markethive is much more than that. It’s geared for everyone, whether you’re just starting out in the online world or a business owner, writer, blogger, creative artist, an entrepreneur on any level. It not only plugs into all other social media platforms, but Markethive is also its own social media platform and digital news site. This lends itself to massive exposure and traffic required to succeed in any business online.
Social media and online marketing platforms or digital media sites typically only have one engine. LinkedIn, for example, only has a subscriber engine meaning they get their traffic through people subscribing to them so basically you have to log in to LinkedIn to see their platform. CoinTelegraph, a high profile digital media site, is predominantly atraffic engine.
Markethive has both engines driving it and the engine’s speed and power are measured by Alexa and WorthOfWeb. Both these engines are growing daily in an exponential fashion as shown in the image below.
These engines drive Markethive’s money machines, no actually, they’re YOUR money machines. So the free services at Markethive along with the Markethive Coin (MHV) are the fuel along with content which is a secondary fuel.
What Are The Money Machines?
The first money machine to be delivered is the Banner X, which is the banner system that the Entrepreneur One upgrades (limited to 500) get their share of impressions to sell on an exchange. The last foundation block for Banner X was implemented this last week by our engineers, so this means the launch of Banner X is just around the corner. Once it is rolled out and if there are any E1 subscriptions left, they will increase to $200 per month. Remember, all money machines are included in the Entrepreneur One Program, so lock it in now for $100 per month here, Click here, Markethive is Completely Free To Join
The next money machine to be implemented will be the Press Release Program and they will continue to be rolled out faster as our engines increase in power and speed, which will include a Boost Exchange, Video Advertising Platform, many different forms of advertising programs which are essentially money machines. So Markethive won’t be selling these programs, you as an Entrepreneur One will sell and profit from these various systems. Notably, Entrepreneur Two will receive all the money machines excluding Banner X.
More Loyalty Programs Coming Soon
Later this year, Markethive will be launching loyalty programs similar to LinkedIn prices and services which allow more and deeper access to data. The first being the Apprentice which will be similar to the first level on Linkedin and will also include matching coin drops on your referrals. The next level is the Journeyman subscription which will allow you to access even deeper levels of data, more messaging capabilities, etc.
There will be advantages to these programs, like increasing your effectiveness in acquiring greater reach for your endeavors, however, they are not money machines. You will always earn MHV coin at Markethive in whatever you do on the platform, but the Entrepreneur Loyalty Program is destined to be extremely lucrative.
CEO Thomas Prendergast illustrates this very well in the video below…
As Thomas explains,
“Markethive is a vision, like a theme park for entrepreneurs. All for free. In fact, the system pays you to learn, pays you to use it, pays you to promote it. The Entrepreneur program will make you the money, a lot of money. I built Markethive for you. I was tired of your dreams being rained upon. Markethive changes all that. The Entrepreneur One program is very limited to 500. When we reach 500 we will be funded enough to go into warp speed.”
Markethive and all of its systems and money machines do not rely on ‘powerlines’, ‘matrices’, ‘binaries’ in fact any type of compensation plan that most of us know is what MLM is based on, and are fundamentally unsustainable, resulting in 97% of unwitting people failing to create a little income let alone a substantial one. This article shows a statistical analysis and the reality of MLM.
Markethive is a referral company, like Paypal, Coinbase, even Facebook, and LinkedIn where users and subscribers join for the products and services and the social aspect respectively. What’s more, Markethive is your company, not run by any hierarchy raking in the profits at your expense. Bringing self-sovereignty, privacy, autonomy to every individual with a genuine opportunity to be in control of your future, fulfilling your potential, creating wealth and able to prosper in so many ways.
No other platform or company is doing this to such a great extent. Starting out early with Blockchain technology, with its own financial economy along with every tool and portal imaginable to make Markethive an all-encompassing system where you do not need to go anywhere else for the added extras to compliment your marketing efforts and business facilitation. This is the new wave, the next generation of working online that ensures your success as an entrepreneur.
More Good News!
You can also expect to have your own Hive Conference Room soon as the development of the HiveRoom portal is now back on the table. In fact, this coming weekend we will be conducting our weekly webinar in our own HiveRoom. Stay tuned for that and see you there!
The continued increase in revenue is accelerating these developments and we wish to thank all of those who support us to bring you your ‘state of the art platform’ that is much needed in these times for every single person seeking an online presence, financial and personal sovereignty with peace of mind.
Remember, if you’re still thinking about becoming one of the 500 Entrepreneur One’s that will unlock incredible earning potential and wealth from your shares of the ILP (Incentivized Loan Program) also given to you through the Entrepreneur One Loyalty Program, there’s no time to waste. The Banner X system is now imminent. This is your last chance to get the E1 upgrade for $100 per month for a lifetime. It’s the perfect time to invest in your future.
Deb Williams
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.
Bitcoin Price Facing Huge Decision: Bearish Double-Top, Or Finally Break Above The $7,200 3-Week High — BTC Price Analysis
The past days were promising for Bitcoin: After finally succeeding in breaking the $6800 resistance mark,
Bitcoin price had seen a decent run of $400 to the reach $7236 as the highest price since the March 12 collapse. As mentioned in our previous price analysis, while Bitcoin was trading around $6700: “we already identify bullish divergence, which can fuel the next move above.” The overall setting looks bullish on the 4-hour chart, going through healthy higher-lows trajectory. However, the mini bull-run from Thursday stopped at the same high from March 20. This might end as a double-top formation, which is a bearish pattern that marks short-term top. The latter will invalidate once Bitcoin breaks above the $7200 area and build demand around it. What we saw on Thursday is a nice tryout, but many sellers were waiting around the $7200 level, what quickly pushed Bitcoin back down to the $6600 — $6800 range. For the short term, Bitcoin found support upon the $6600 level, facing the $6800 — $6900 resistance area from above.
Total Market Cap: $189.9 billion
Bitcoin Market Cap: $123.8 billion
BTC Dominance Index: 65.2%
Key Levels To Watch & Next Possible Targets
– Support/Resistance levels:
As mentioned above, Bitcoin is now facing the familiar $6800 — $6900 resistance area. Further above lies $7000, followed by the $7200 price zone, which is defined as critical level for Bitcoin to prove short-term bullishness and cancel the double-top threat. If we see a new April high, then the next resistance should be around $7400, before reaching $7700. The last will mark a full recovery from the March 12 dump. From below, the initial level of support lies at $6600. Down below lies the $6300 — $6400 support area, followed by $6200.
– The RSI Indicator:
Despite the recent day’s bullishness, Bitcoin is still facing the crucial RSI level of 50. A bullish signal if, and only if, breaking back above the 50 RSI levels.
– Trading volume:
Thursday’s bullish run was followed by the highest amount of trading volume over the last ten days. However, the volume was still far below the March highs.
Article Produced By Yuval Gov
Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU — Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO.
Own A Piece Of Markethive — Lifetime Income Opportunity
Markethive, the first Social/Market Network built on the Blockchain, introduces The Entrepreneur Program
The Entrepreneur program is designed to leverage your system. Your free Markethive system is a market network, like a social network, but with powerful inbound marketing tools integrated into the system. This premier hybrid social network includes news feeds, blogging platforms, video channels, chat channels, groups, image sharing, link hubs, resume, profile page and peer to peer commerce. But more than a social network, we have also delivered to you “Inbound Marketing tools” like broadcasting, capture pages, lead funnels, autoresponders, self-replicating group tools, traffic analytics, and more. Plus, we are built on the Blockchain which allows Airdrops of 500 Markethive Coin (MHV) upon joining and micropayments for using the tools mentioned above. This is all free to you.
The Entrepreneur program is designed to add gold plating to an already stellar and unbelievably valuable system you receive for free.
The Markethive Coin — MHV Consumer Coin
Notably, MHV was listed on the first of many exchanges, including its own exchange [in development] in March in 2019 and is currently valued at $0.20. The Markethive coin will not be dependent upon speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive.
